And Mr. Market has spoken and he is obsessed with FAANG stock member Netflix (NFLX) , and kind of hates Facebook (FB) .

Netflix's stock has exploded this year by 60%, as investors have grown more enamored with the streaming giant's earnings potential due to its expanding original content library. As far as Mr. Market is concerned, this future earnings potential is not yet priced into stock valued on a forward price-to-earnings multiple of 241 times.

For a bit of perspective here, 126-year old industrial beast General Electric (GE) shares trade at 13.9 times forward earnings. While GE is going through its fair share of problems, the valuation disparity between GE and Netflix borders on laughable.

Nevertheless, Netflix is blowing its fellow FAANG stock friends away this year. That's no small feat seeing as Apple is sitting on a mountain of cash.

On Jolt

TheStreet looks at why Netflix's stock has rocketed to the moon this year. There may be more to the move higher than simply zillions of unique content from CEO Reed Hastings' brain hitting the streaming service. Receive the free Jolt newsletter here.